The Danish global transport and logistics provider saw year-over-year earnings growth in all three segments.
DSV’s profits and net revenues for the second quarter of 2018 increased year-over-year with all three of the company’s segments — air and sea, road and solutions — experiencing growth.
DSV’s profits for the second quarter of 2018 leapt 60 percent from last year’s second quarter to 1.2 billion Danish krone (U.S. $188 million), according to the company’s latest financial statements.
Net revenues for the quarter inched up 3 percent year-over-year to DKK 19.5 billion.
DSV’s air and sea segment posted gross profits of DKK 2.4 billion on net revenues of DKK 9.1 billion for the quarter, up 7.7 percent and 2.5 percent year-over-year, respectively, as the segment benefited from higher sea and air freight volumes.
Meanwhile, DSV’s road segment, which has operations in Europe, North America and South Africa, also benefited from higher shipments. The segment’s gross profits for the quarter totaled DKK 1.3 billion, inching up 0.2 percent from last year’s second quarter, while net revenues stood at DKK 7.9 billion, up 2.3 percent.
DSV’s solutions segment, which specializes in contract logistics, recorded gross profits of DKK 741 million on net revenues of DKK 3.1 billion, up 7.4 percent and 6.8 percent year-over-year, respectively.
“So far, the impact from trade tariffs has been limited and going into the second half of 2018 we continue to see a stable development on the global transport markets,” DSV CEO Jens Bjørn Andersen said.
DSV’s second-quarter profits up 60 percent
